GB Group expects strong earnings growth

CHESTER-based identity management and marketing company GB Group expects to beat earnings targets when it posts full-year figures in June.

In a pre-close trading statement for the year to March 31 the company said profits, before tax, interest and exceptional costs, should rise 46% to £1.9m. Revenues are expected to lift 10% to £24.4m.

GB has two main divisions, DataAuthentication which offers an identity verification service aimed at tackling ID fraud, money laundering and under-age gambling, and DataSolutions, which provides clients with information on their customers.

The company said the growth was down to increased gross margins in the DataSolutions business and stronger sales in DataAuthentication.

In the statement chief executive Richard Law said: “GB has benefited from the strength of its software and services which it has sold successfully against its competitors. Creating differentiation is something that we do well and ongoing investment is keeping our software and services at the forefront of their markets. 

“This remains GB’s principal strategy for continued, organic growth. We enter the current year with confidence in continued growth.”